Paramount named Mattel chairman and CEO Ynon Kreiz as co-chief executive alongside David Ellison when its $110 billion acquisition of Warner Bros. Discovery is completed.
Kreiz will leave Mattel to join Paramount, according to the New York Times and The Verge. Paramount said Ellison will remain chairman and co-CEO. The appointment comes as the companies move toward closing the transaction.
A U.S. judge on Wednesday approved a settlement between Paramount, Warner Bros. and 12 states that had sued to block the merger, Al Jazeera reported. Judge Araceli Martinez-Olguin called the arrangement a “fair, reasonable, and good faith approach to address the competitive harms,” according to the outlet.